tv Forbes on FOX FOX News May 26, 2012 8:00am-8:30am PDT
that no more qualifying you to be president than a plumber. >> welcome to forbes on fox. we'll in with steve forbes and elizabeth mcdonald and rick unger and john. >> and steve, a qualifier or disquaffer. >> huge qualifier it means that people are trying to get ahead. and that means less taxs and regulation and a sound dollar. romney lived through it and obama has not and why the economy is stalled today. being a capitalist is a qualifier for job as president. >> it is not a disqualifier. i don't have a problem. and equipped with a balance sheet is what it took to be president of the united states. we can grab bernie madoff and
let him run for office. bernie madoff was a crook and mitt romney is not a crook. i am not suggesting he is a group. but he is easy with the balance sheet and not qualified to be president. >> romney put it on the table when he talked about how he created 100,000 job in bain capitol. they are not there to create jobs. that is perfectly fine and it is okay to make a profit for the investors, but suggesting that he was a great job creator. he opened the door to the discussion. i don't think that that smart. but he created the situation. it is not only republicans, but a number of democrat said bain is a creator of jobs and new business.
governor from pennsylvania and duval patrick from massachusetts and booker backed off a little bit. and i mean, a lot of democrats agree with mitt. >> yes. this is what we are going to see as a fundmental theme in this election. does government create jobs or private sector create jobs? the fact that the administration is attacking [prao-euflt] equity. how can you be successful as an investor by destroying companies and jobs. that means you will not make a profit. bain was in the business of promping up companies. it was risky and sometimes it didn't work but in the goal in the end of the day was to get companies to survive . by the way, bain's investors are largely pension fund. is it is a hypocrisy on part
of the administration. >> this is what bain capitol said about the attack ads. despite political attack emphasized a few companies that struggled. revenues grew in 80 percent than more than 350 companies in which we invested and between 70 or 80 percent went on to survive well. almost by definition they would. and victoria made the essential point. if they are a bad over seeing. he would not be rich today and not know who he is. concerns me is does he have the courage to create jobs very often you have to destroy them. business are in the business of profit and atract the investment, sometimes you have
to terminate position. i am skeptical of his willingness to make that point. we are in a age where nothing is supposed to fail, right? everything is bailed out and therefore there is no failure. one area that mitt romney or persons that run a experience can help in the area of regulation . new rules and regulations businesses cost the sne10 billion a year. new rules and regulations are a burden on business and job creation . they have why it is at the lowest point since 1981. senator george mcgovern got into business. and his business went oust
business as a result of too much regulation. if he knew what businesses went through he would not have passed the legislation he did. >> i gree with you. there is so many double standards and top democrats including bill clinton and al gore and john edwards and dashle daschle went to work with private record companies. he has blown out the government balance sheet to equal the sign of germany and south korea. it is first solar and beak an energy . all sorts of green energy companies that failed. he has done that with taxpayer money.
>> you wonder why he opened up himself to criticism. what about the president, not just the president but a lot of questions about whether that stimulus program paid off in terps of jobs . >> yeah, but let me point something out here. conversation is proving my point. you are talking about what president obama did wrong and how successful bain is which they are. you are not able to tell us why being the ceo of bain capitol qualifies him to be president. and you can't tell us that. >> why not give him a shot at it and being a turn around specialist and try to create jobs. former business men who became president. you are right they ran up against congress. harding and truman. eisenhower said it is tougher to work with congress than the military. even though no one
qualification for president. that is a good at this point in time. and square off in november. all eyes are on wisconsin recall vote. you could tell us what will happen this fall. neal is all over it. and live from wisconsin starting june 4, 4:00 p.m. eastern time . 6:00 p.m. on fox business network. and tough economy has more americans staying home this holiday weekend, but that is not stopping federal employees for planning another lavish trip to hawaii on your dime. wait until you hear the details. is it time to junk all government junkets? i knew it'd be tough on our retirement savings,
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>> memorial day weekend shaping up to be a hot one. forecasters predicting an early heat wave stretching from the east to the west. real feel temperatures and topping 100 degrees from st. louis to nashville . triple-digits. and so all of you bikers are careful out. q. east coast facing a tropical storm from florida to north carolina. thunderstorms are gaining strength. forecasters expect it to be tropical storm beryl over the holiday weekend. it is expected to move southwest on the georgia coast. i will see you again height here on fox news channel. right now, back to forbes on
fox. from a luxerous to the yobless. the official caught living it up on a lavish trip to vegas, he's gone but the system remains. federal justice workers are not backing down in the upcoming conference in this lush resort in maui and costing a tax dollars and worth every penny. emac said it is time to ban them for good. >> i agree, david. this u.s. taxpayers don't work for the vacation. it works for us and the u.s. justices work for us and the eighth circuit is taking their vacation in the kansas marriot. >> it is the ninth. >> i know it is the ninth circuit. and the eighth circuit is
going to lowsy kansas city marriot . they should be suing -- doing them vie skype. ninth circuit is the worst of the courts and 107 rulings over turned. and i say use the money to break up the ninth circuit. >> it is not only the ninth but the lenth circuit. they held their conference in disneyworld . they did . going back to the ninth circuit. and that is all the more reason to have a conference and so judges and attorneys can meet. i would say in maui. that is part of the ninth circuit court they are holding them in hawaii for years now and it is going back to kansas city. they are saying that the
lodging costs $200. midwest is marketedly less expensive than the west coast. and prices in lodging is $250. if this is going to help them improve their system do it. >> but montana and arizona are also part of the ninth circuit and you could get cheper fars than in hawaii. i think e-mail is right. they are aggregious in terms of the fishing. expedition. justices don't deserve junkets this comes at the taxpayer expense. if they want to improve the judicial making read the constitution again. >> it some of the judges have cancelled the trips saying they are use you can do it
over skype and so forth. >> i am not sure why the judgment of the ninth circuit is relevant. but the traveling to hawaii and spending a million on a conference is over the top. two senators, republican senators who are launching the attack over what they are not telling you, congress wrote a check to the republican party and democratic party and they are taxpayer dollars to pay for their conventions this year. >> we are consistent. and rick unger across the board with wasteful taxpayer spending across the board. >> i am not talking to you but the two republican senators. >> and the fact they have used our money. >> i agree. >> one of them is chuck grassley. and people who are in glass houses shouldn't throww
stones, right. >> for once i agree with rick. we shouldn't pay with the republican national connention or democratic national convention. the ninth circuit, the idea of going to hawaii to contemplate constitutional issues is -- there are other rez sorts. and stick around california and get your work done there. this is offense and i have we are paying for it. mike go ahead. emac brought it up. and when we have the president talking about why he raises taxes on successful people in the name of fairness. this shows where it goes. to wasteful spending. it shows how bogus the statement is.
can we do without the junkies? >> absolutely not. and they can buy each much those justices and they can learn about what america is about. cancel all of the travel expenses >> sure. but only one of the circuit courts have cancelled and everyone else is going on >> i think we point fingers immediately. >> emac gets the last world. >> forget bank ceo. and new credit crunch that has moms piping mad. and first, right here in forbes home flippers. they are back. same folks trying to pump up the housing bubble, and are buying again and that is great news. this is the flip side. stick around for this one, coming up next .
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they are all cash and getting the bank owned houses that no one wants x. they are transforping them. in many cases they are land wars. we have had four million americans in the rental market. that helps all of the home values . this does sound like redos. when you have people buy run down homes that. is great. this is a possible by the feds. namely buying and selling short term bonds. it is printing more money. and the housing market will not be rebust until real wages go up. good news or bad news the fact
that people are coming in is great. . it will allow people to buy more. and it is to buy or resale them. that is great. this is good news? >> no, to me it is bad news. i am on mike's side. did you think we would see the speculation if the fed were not looking for way to make interest rates artificially low. housing despite all of the protest is dead money and money flowws in housing and not flowing in software and cancer cares. this is not a good thing and a sign of moving back wards. >> victoria. i know houses can be a black hole. but there is something in all
of us that makes us want to be property owners, right. we are moving away from the notion. that is a negative driver of the latest down turn. my sister bought an investment property. it was forced off. and and that is owners that are now renters. that is a healthy sign in the market. it is a good thing. there is a caveat morgan that you have to be careful. you have to be careful. >> lots of pros and cons . also have to realize with property investment, you are looking at best returns in the
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